Kiss collapse causes panic

first_img Kiss collapse causes panic Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Share KCS-content Wednesday 18 August 2010 7:51 pm THE demise of the travel company Kiss Flights has put thousands of holidaymakers’ plans in jeopardy. The announcement yesterday that the company had stopped trading came as 13,000 customers were still abroad and a further 60,000 have already paid for trips.The news that Kiss had followed in the footsteps of Goldtrail and Sun 4 U, two other travel companies to go bust in recent months, does not mark an end to the doom and gloom. There have been warnings that other holiday firms could collapse before the summer is out. whatsapp Tags: NULLlast_img read more

Why are the Irish banks still in such a mess?

first_img Tags: NULL KCS-content Wednesday 25 August 2010 8:56 pm IRISH banks seem unable to shake off the financial crisis, in fact they seem to be in worse shape now then at the start of the year. The main casualty is Anglo Irish Bank, which threatens to squash the economic recovery under an estimated €24bn of bad loans. It has already caused credit rating agency S&P to downgrade Ireland’s sovereign rating from AA to AA-. But how does a country with a population of 4m get itself into this position in the first place? Whereas the rest of the world suffered a financial crisis because of very complicated debt structures like CDO’s, Ireland’s banking crisis is essentially home grown. It boils down to the bursting of one of the largest property bubbles in history. The genesis of Ireland’s problems go back 10 years. “Until about 2000, growth had been on a secure export-led basis, underpinned by wage restraint. However, from about 2000 the character of the growth changed: a property price and construction bubble took hold,” wrote Patrick Honohan of Trinity College Dublin – now governor of the Irish Central Bank – in a report published in 2009. Anecdotal evidence of the scale of the boom is staggering. In one prosperous Dublin suburb an acre of land sold for over €80m in 2005.This is also a tale of hubris. Philip Lane, head of economics at Trinity College Dublin, notes that the banks are in trouble not because of homeowners defaulting on their mortgages, but as a result of a small number of property developers. These guys borrowed billions during the boom years and are now facing bankruptcy. Taxpayers have been consigned to spending huge sums to prop up the banks, including Anglo Irish, which ran aground after making bad loans. Former chief executive Sean Fitzpatrick took $114m in personal loans over eight years at the bank, but recently declared bankruptcy. The government has been investigating.What is most startling in Honohan’s report is his refusal to blame the international financial crisis for Ireland’s problems. It would have happened anyway, the straight-talking central banker says, and the collapse of Lehman Brothers in autumn 2008 only exacerbated the Irish banks’ funding problems. The end of Honohon’s report sums up this chapter in Ireland’s history: “The Celtic Tiger period represented a solid convergence of Ireland to the frontier. But it ended in 2000, to be succeeded by an old-fashioned property bubble.” At least its central bank governor is under no delusion of what caused the crisis. It took a decade to grow, it may take a decade to unwind. Show Comments ▼ Share Why are the Irish banks still in such a mess? by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd whatsapp whatsapplast_img read more

China considers probe into BHP Billiton’s bid for Potash Corp

first_img China may launch an antimonopoly probe into BHP Billiton’s $39bn (£25bn) bid for Canada’s Potash Corp, the China Business News has claimed.China will also review the merger of two Russian potash firms – Uralkali and Silvinit – given the major impact the two deals would have on China, the paper cited the unnamed source as saying.The report was another indicator that China, as the world’s biggest importer of fertiliser, is wary of further concentration in the market, following BHP Billiton’s launch of a hostile bid for Potash Corp last month.BHP declined to comment on the Chinese newspaper report.The company has said the deal only needs approvals from regulators in Canada and the United States, where Potash Corp sells around half its production.China buys around seven per cent of the output of Potash Corp, which controls around one-fifth of world production of the key crop nutrient.BHP Billiton does not currently produce any potash but does have potash resources it could develop in the future.China’s largest fertiliser distributor, Sinofert Holdings Ltd, said last week it was worried about the impact that a BHP deal would have but would not say if its parent, Sinochem, was planning a rival offer.Government departments and state-owned Sinochem Group have held meetings recently to review the possible impact the two high profile acquisitions could have on China and about possible countermeasures, according to the source quoted by China Business News.Industry analysts have mentioned Chinese companies or the government’s sovereign wealth fund as possible counter-bidders against BHP. whatsapp Wednesday 1 September 2010 3:36 am Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoAll Things Auto | Search AdsBuick’s New Lineup Is Truly StunningAll Things Auto | Search AdsUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar ProgramUndoOne-N-Done | 7-Minute WorkoutAdvertisement 7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBetterBe20 Stunning Female AthletesBetterBeUndo whatsappcenter_img John Dunne Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org China considers probe into BHP Billiton’s bid for Potash Corp Tags: NULLlast_img read more

BofA bolsters M&A team after poaching Nomura rainmaker

first_img Tags: NULL KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Share whatsapp whatsapp ADRIAN MEE, head of European mergers and acquisitions at Nomura and one of the bank’s key rainmakers, has quit the Japanese investment bank to join Bank of America Merrill Lynch (BoA).The move will come as a blow to Nomura which has suffered a series of high-profile defections just two years after acquiring the European and Asian investment banking of Lehman Brothers.Mee, global head of M&A at Nomura, will become head of international M&A at BoA. He joins his former colleague Christian Meissner, who ran the investment banking business at Nomura before resigning earlier this year to join BoA.The pair, along with William Vereker, co-head of global investment banking at Nomura, were the three main negotiaters in the acquisition of Lehman’s businesses.The duo recently advised International Power on its deal with France’s GDF Suez to create the world’s largest utility with annual revenue of €84bn (£69.3bn).Nomura still ranks 18th in the league tables for European M&A, compared with BoA which has held a top five position under the leadership of Carlo Calabria. Show Comments ▼ Tuesday 7 September 2010 11:02 pm BofA bolsters M&A team after poaching Nomura rainmaker last_img read more

Hands set for day in court over EMI deal

first_imgSunday 17 October 2010 11:31 pm Share AN explosive court case brought by Guy Hands, founder of buyout house Terra Firma, against Citigroup over indebted record label EMI opens in Manhattan today.Hands is suing Citigroup for up to £7bn in damages to cover equity lost since it bought EMI for £4.2bn in 2007, alleging that David Wormsley, a senior Citigroup banker and former close friend, misled him about another bidder to rush him into an inflated bid.Hands specifically alleges that in three telephone calls made during May 2007, Wormsley told him rival firm Cerberus Capital Partners was interested and Terra Firma would lose the deal unless it bid 265p per share by 9am the following day. Citigroup, which was also advising EMI on finding a buyer, offered to provide £2.6bn debt at short notice to fund the buyout. Hands says the bank made £92.5m in fees from the deal. Citigroup denies all allegations as “categorically untrue”.Terra Firma has written down 90 per cent of the investment’s value since the financial collapse, but EMI is still burdened with $3bn Citigroup debt bound by strict loan covenants that forced Hands to raise a further £105m equity from investors in May.Reports suggest the lawsuit is Hands’ attempt to push Citigroup to agree a settlement to swap up to £1bn of debt for equity or give the bank a minority stake in EMI in return for reducing the debt. Terra Firma has reportedly been in talks with Citigroup for some weeks to halt the case in exchange for a settlement, though sources say a deal remains unlikely. Hands has tried to restructure both the size and terms of the debt repeatedly since 2007 but Citigroup has refused to renegotiate.As EMI’s sole creditor, Citigroup would gain control of the music group if Terra Firma defaulted and rendered EMI bankrupt.TIME LINE | TERRA FIRMA’S OWNERSHIP OF EMI● May 2007: Terra Firma Capital Partners III fund closes at €5.4bn ($7.55bn; £4.72bn).● 21 May 2007: David Wormsley allegedly makes three phone calls to Guy Hands encouraging Terra Firma to bid 265p a share for EMI by 9am the next day to close the deal.● May 2007: Terra Firma borrows £2.6bn from Citigroup to buy out EMI for £4.2bn.● October 2008: EMI posts a full-year loss of £757m.● March 2009: Terra Firma writes down the investment by 50 per cent and its entire portfolio by 45.5 per cent.● July 2009: Hands attempts to negotiate the terms of the debt with Citigroup.● September 2009: Citigroup publishes an analyst report responding to Hands’ proposal to inject £1bn new equity into EMI if Citi will write off £1bn debt. It concludes that by rejecting the deal, Citi could force Terra Firma to declare EMI bankrupt and gain control of the label.● 11 December 2009: Hands files lawsuit at the New York Supreme Court accusing Citi of tricking Terra Firma into buying EMI. Case seeks to recover “lost equity of billions of dollars” and damages.● February 2010: Terra Firma proposes selling London’s Abbey Rd studios to reduce the debt. English Heritage designates the site protected.● 25 March 2010: Citi’s bid to dismiss the US case, on grounds that the dispute should be heard in a UK court, is thrown out.● June 2010: Hands raises £105m from investors to save EMI from debt default.● August 2010: EMI achieves 2010 revenues of £1.65bn and a net loss after restructuring costs and fair value adjustments of £512m. It still has £3.04bn debt outstanding due for repayment between 2014 and 2017. ● October 2010: Court case opens in Manhattan. KCS-content Show Comments ▼ Hands set for day in court over EMI deal whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Tags: NULLlast_img read more

BP sells slice of African operation for $296m

first_imgMonday 15 November 2010 2:46 am Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasgetDefinitionThese Are The Funniest Photos Of IT Support WorkersDefinitionBuzzyFans8 Foods That Are Actually Damaging Your KidneysBuzzyFansmylovelymalinoisFormer Police Dog’s Discovery Leave Authorities SurprisedmylovelymalinoisLoan Insurance WealthAmal Clooney’s No Makeup Photo: Her Real Face Is Quite DifferentLoan Insurance WealthStudy in Germany | Search AdsStudying in Germany Might Be Cheaper Than You ThinkStudy in Germany | Search AdsYarnwe12 Celebrities Who Are Totally Unrecognizable Without MakeupYarnweWorld LifestyleNavy Man Realizes That His Wife Lied During DeploymentWorld LifestyleZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald BP has announced that it has agreed to sell 50 per cent interest in each of BP Malawi and BP Tanzania to Puma Energy for $296m (£183m).The deal also includes its fuels marketing businesses in Namibia, Botswana and Zambia.“With the experience and existing businesses of their owners in the region and elsewhere , we believe that Puma Energy should be able to build on these good assets and grow the businesses further in line with the strong economic outlook for the area and in the best interests of all key stakeholders,” said Sipho Maseko, chief executive of BP Southern Africa.” whatsapp More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comcenter_img Share John Dunne whatsapp BP sells slice of African operation for $296m Tags: NULLlast_img read more

Chrysalis in £107m takeover deal

first_img Show Comments ▼ whatsapp Friday 26 November 2010 9:16 am More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center Sharecenter_img whatsapp LONDON music group Chrysalis has today agreed a £107.4m takeover deal, ending weeks of speculation over its discussions with potential buyers.The publisher, which owns the rights to songs by artists such as David Bowie and Michael Jackson, is being bought by BMG Luxco, a joint venture formed from German media group Bertelsmann and private equity firm Kohlberg Kravis Roberts.Chrysalis co-founder and chairman Chris Wright hailed the takeover as “the end of one era and the start of another” for the company.The deal prices Chrysalis shares at 160p each, a premium of 45.5 per cent on its 110p value at 29 October.The share price has risen steadily since then on speculation, and after Chrysalis confirmed early stage talks were talking place in a statement issued on 1 November.Chrysalis shares dropped slightly today to trade at about 158p.BMG, which owns the rights to music by artists including Britney Spears and Coldplay, said the deal was “an important step forward in our strategy as we build a major, global music rights business.”BMG chief executive Hartwig Masuch said: “Chrysalis’ extensive and high quality catalogue represents an excellent fit with our existing business.” Wright founded Chrysalis as a record label in 1969 aged 24 with Terry Ellis, a university friend. Chrysalis sold its same-name record label to EMI in 1991, sold book publishing operations to Anova Books in 2005, and sold Chrysalis Radio to Global Radio for £170m in 2007, to leave only the international music publishing division. alison.lock Chrysalis in £107m takeover deal last_img read more

Creston to snap up US PR firm Cooney/Waters

first_imgMonday 13 December 2010 8:20 pm Share Creston to snap up US PR firm Cooney/Waters whatsapp KCS-content Show Comments ▼center_img whatsapp Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap Communications firm Creston has snapped up US healthcare PR operation Cooney/Waters in a £19.5m deal.The transaction will come in three stages, including a £5.9m upfront payment to be financed from existing bank facilities and two subsequent payments in 2014 and 2017.Creston says it expects the acquisition to be earnings enhancing in the first full financial year. The US firm will form a synergy with Creston’s UK-based healthcare PR agency, Red Door Communications. The acquisition is still awaiting shareholder approval at a general meeting tomorrow.Singer analyst Jonathan Barrett said: “The proposed acquisitions expand Creston’s PR healthcare footprint in the key US market and will give the company greater access to many of the large global healthcare companies. At five times Ebit, the price is attractive.”Creston has seen its revenues jump nine per cent in the first half to £32m. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutelast_img read more

Charlemagne sees fortunes rise

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Show Comments ▼ Charlemagne sees fortunes rise whatsapp whatsapp KCS-content Share Tuesday 11 January 2011 7:35 pm Emerging markets equity manager Charlemagne Capital has seen a 14.1 per cent increase in assets under management (AUM) to $3.5bn (£2.3bn). The rise comes as investors rallied to pour money into mutual and hedge funds to tap growth in developing markets. Revenues at the firm grew to $28.3m, up 18.9 per cent on 2009, leaving Charlemagne holding cash balances of $24m last year. For the 12 months ending 31 December 2010, Charlemagne saw net management fees increase to 422.1m, an increase of 16.8 per cent and net performance fees up to $6.1m, an increase of 45.2 per cent. Charlemagne said it expected further inflows this year as the consensus among investors for emerging markets remains positive. Tags: NULLlast_img read more

Philips profit hit by TV sales

first_img John Dunne Tags: NULL whatsapp Philips Electronics reported lower-than-expected fourth-quarter net profit, as poor TV sales hit its lifestyle division, and warned that consumers in mature markets will be reluctant to spend this year.The Dutch lifestyle, healthcare and lighting giant said it has seen a revical in the construction sector, which is expected to lift its lighting division in the second half.Overall drivers for growth will come from emerging markets, which account for about one third of group sales and are a focus for expansion, Philips said.“Overall, Philips results are somewhat disappointing mainly due to the weaker-than-expected consumer lifestyle division,” said Sjoerd Ummels, ING analyst.“Philips stresses that consumer sentiment will continue to be subdued throughout 2011 and it’s not a surprise, but still we’ve had two years of weak consumer sentiment in mature markets, and apparently there’s no end in sight.”Philips reported net profit of 465m euros (£395m), well short of the 532m euros average forecast in a Reuters poll of 20 analysts.Sales for the quarter were 7.392bn euros, up 1.8 per cent, against a forecast of 7.56 bn euros, as the rice cookers-to-toasters consumer lifestyle business was hit by another quarter of weak TV sales.“Sales were impacted by negative consumer sentiment in developed markets, while continued destocking in the trade resulted in a particularly slow December,” outgoing chief executive Gerard Kleisterlee said in a pre-recorded audio statement.The consumer division reported fourth-quarter EBITA of 151 million euros, well below a forecast of 267 million euros and down 43 per cent from a year ago.Fourth-quarter EBITA for the healthcare division, which supplies scanners and other hospital equipment, was 522m euros, slightly above the forecast of 514m euros and up 15.5 per cent from a year ago.The lighting division, which produces light bulbs and street lighting systems and whose fortune is tied partly to the health of the construction industry, reported EBITA of 198m euros, below analysts’ expectations for 218m euros, and up 141 per cent from a year ago. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Adscenter_img Monday 24 January 2011 3:53 am Share Show Comments ▼ Philips profit hit by TV sales More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comlast_img read more